LightInTheBox suffers a slump on revenue decline

The 48 percent slump in LightInTheBox Holding Co Ltd, the Chinese online discount retailer that sold shares in the United States this year, risks reducing the price for the nation's companies seeking to go public, IPOX Schuster LLC said. American depositary receipts of LightInTheBox plunged below their June 6 debut level last week, after the Beijing-based company said sales will decline. The ADRs posted the biggest slump on the Bloomberg China-US Equity Index of the most-traded Chinese stocks. LightInTheBox, whose $80 wedding gowns and $2 iPhone gadgets are manufactured in China and sold in the US and Europe, reported on Aug 19 second-quarter sales that failed to surpass analysts' estimates and said revenue will decline in the following three months.